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Traders hire tanks on tiny island to profit from global oil glut - Sydney Morning Herald
Sydney Morning Herald | Traders hire tanks on tiny island to profit from global oil glut Sydney Morning Herald Glencore hired tanks at the island's only oil terminal to stow crude, joining Vitol Group, people familiar with the matter said last week. They're responding to the market's deepening contango, a situation where prices today are lower than those in ... Oil traders looking for a contango boom in the bust |
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